Stakeholder pension plan for under 18s

Help towards your child’s future today. As his or her legal guardian you could invest on their behalf in our Stakeholder Pension Plan for under 18s providing an income for them in the future.

Once the plan is set up, anyone can contribute – even the taxman helps out, for every £80 paid into the plan, the Government will add an extra £20 (up to certain limits).

Ownership of the plan will switch to the child when they turn 18 and funds come available when they reach 55. They have the option to take pension benefits and consider the option to take a tax-free cash lump sum. Please remember, tax rules may change in the future.

• Provides an income with the option to currently take up to 25% as a tax-free cash lump sum (or 25% of lifetime allowance – whichever is lower), although this will reduce your child’s final fund value 
• No minimum contribution 
• Choice of a wide range of pension funds 
• Flexibility to switch to lower risk investments when approaching the time your child wishes to take their benefits.
• No initial or exit charges and a competitive yearly management charge, reducing after 10 years
• No penalty charge for transferring your pension to or from another provider 
• A Stakeholder Pension Plan is a stock market-based investment. While your child enjoys the potential for good returns, they may get back less than you originally invested 
• Flexible - Stop and start contributions whenever you like
• Accidental death benefit on all plans started on or after 1 July 2009

Before making an application you should read the following important documents to ensure you fully understand the product choice you are making.

Key Features of the Stakeholder Pension Plan (PDF New Window)

Plan Conditions of the Stakeholder Pension Plan (PDF New Window)

To view PDF documents you will need the latest version of Adobe Acrobat reader.

To read the PDF document with a screen reader please link to the Access Adobe website.